SPX at a Critical Decision Point: Breakout or Breakdown?
The S&P 500 has been respecting this rising channel (green support and red resistance) for an extended period. Currently, price action is testing the mid-range, making this a key level for future movement.
Possible Scenarios:
1️⃣ Bullish Continuation → If SPX holds above the green trendline, we could see a breakout towards the upper resistance (red trendline), targeting 7,000+.
2️⃣ Bearish Breakdown → A loss of the trendline support could trigger a correction, potentially sending price towards 5,500 or lower.
🔍 Watch for:
✔️ Confirmation of support holding (bullish signals).
✔️ Breakdown and retest of the green trendline as resistance (bearish signals).
⚡ Trade Idea:
• Long on bullish confirmation above trendline.
• Short on breakdown + retest of support as resistance.
Possible Scenarios:
1️⃣ Bullish Continuation → If SPX holds above the green trendline, we could see a breakout towards the upper resistance (red trendline), targeting 7,000+.
2️⃣ Bearish Breakdown → A loss of the trendline support could trigger a correction, potentially sending price towards 5,500 or lower.
🔍 Watch for:
✔️ Confirmation of support holding (bullish signals).
✔️ Breakdown and retest of the green trendline as resistance (bearish signals).
⚡ Trade Idea:
• Long on bullish confirmation above trendline.
• Short on breakdown + retest of support as resistance.
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.